Morningstar strikes deal to buy French investment consultant, fund researcher Seeds Group
By APMonday, May 17, 2010
Morningstar buys French consultant Seeds Group
CHICAGO — Investment research firm Morningstar Inc. on Monday said its French subsidiary reached a deal to buy Seeds Group, which provides investment consulting services, for an undisclosed amount.
The deal is expected to close in the next few months.
Seeds Group, founded in 2002, counts pension funds, insurance companies, asset managers, banks and brokerage firms among its consulting clients. It is based in Paris and has 12 employees.
The company also operates Multiratings.com, a fund research and investment education website for advisers and institutions.
Chief Executive Jean-Francois Bay and Managing Director Vianney Dubois, who co-founded the company, will continue to lead the business after it becomes part of Morningstar France.
Morningstar shares slipped 24 cents to $47.60 in morning trading.
